The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Huadian Power International C CS 614278901 16 40,000 SH   SOLE   40,000 0 0
Kingmaker Footwear Holdings CS 649209905 30 120,000 SH   SOLE   120,000 0 0
Restaurant Brands NZ Ltd CS 600298905 238 45,000 SH   SOLE   45,000 0 0
Westshore Terminals Investmen CS 96145a960 183 10,120 SH   SOLE   10,120 0 0
3M Corp. CS 88579Y101 1,224 6,221 SH   SOLE   6,221 0 0
A T & T CS 00206R102 450 14,005 SH   SOLE   14,005 0 0
AECOM Technology Corp CS 00766t100 832 25,200 SH   SOLE   25,200 0 0
AMN Healthcare Services CS 001744101 947 16,165 SH   SOLE   16,165 0 0
Abaxis CS 002567105 344 4,150 SH   SOLE   4,150 0 0
AbbVie Inc. CS 00287y109 1,499 16,183 SH   SOLE   16,183 0 0
Abbott Labs CS 002824100 1,328 21,777 SH   SOLE   21,777 0 0
Accenture Ltd CS g1151c101 213 1,300 SH   SOLE   1,300 0 0
Agilent CS 00846u101 762 12,325 SH   SOLE   12,325 0 0
Alaska Air CS 011659109 639 10,575 SH   SOLE   10,575 0 0
Albemarle Corp. CS 012653101 472 5,000 SH   SOLE   5,000 0 0
Alcoa Corp CS 013872106 359 7,650 SH   SOLE   7,650 0 0
Alphabet Inc Class A CS 02079k305 848 751 SH   SOLE   751 0 0
Alphabet Inc Class C CS 02079k107 827 741 SH   SOLE   741 0 0
Altria Group CS 02209S103 347 6,114 SH   SOLE   6,114 0 0
American Airlines Group Inc. CS 02376r102 600 15,812 SH   SOLE   15,812 0 0
American Woodmark Corporation CS 030506109 687 7,500 SH   SOLE   7,500 0 0
Amgen CS 031162100 877 4,752 SH   SOLE   4,752 0 0
Analog Devices CS 032654105 547 5,700 SH   SOLE   5,700 0 0
Apple Computer CS 037833100 2,802 15,138 SH   SOLE   15,138 0 0
Arrow Electronics CS 042735100 1,118 14,850 SH   SOLE   14,850 0 0
Associated Banc-Corp CS 045487105 287 10,500 SH   SOLE   10,500 0 0
Astrazeneca CS 046353108 211 6,007 SH   SOLE   6,007 0 0
Axalta Coating Systems CS g0750c108 621 20,500 SH   SOLE   20,500 0 0
BB&T CS 054937107 1,661 32,940 SH   SOLE   32,940 0 0
Bank of Nova Scotia CS 064149107 240 4,200 SH   SOLE   4,200 0 0
Berkshire Hathaway B CS 084670702 1,257 6,736 SH   SOLE   6,736 0 0
Berry Global Group, Inc. CS 08579w103 538 11,720 SH   SOLE   11,720 0 0
Blackstone Mortgage Trust CS 09257w100 649 20,650 SH   SOLE   20,650 0 0
Boeing CS 097023105 545 1,625 SH   SOLE   1,625 0 0
Bristol Myers Squibb CS 110122108 875 15,817 SH   SOLE   15,817 0 0
Brookline Bancorp CS 11373m107 233 12,506 SH   SOLE   12,506 0 0
CSX Corp CS 126408103 1,745 27,355 SH   SOLE   27,355 0 0
Canadian Pacific CS 13645T100 504 2,755 SH   SOLE   2,755 0 0
Capital One Finl. CS 14040H105 358 3,900 SH   SOLE   3,900 0 0
Carnival Corp.-Cl A CS 143658300 640 11,175 SH   SOLE   11,175 0 0
Celgene CS 151020104 1,483 18,676 SH   SOLE   18,676 0 0
Century Bancorp CS 156432106 311 4,074 SH   SOLE   4,074 0 0
Chevron Corporation CS 166764100 1,030 8,150 SH   SOLE   8,150 0 0
Church and Dwight CS 171340102 5,058 95,150 SH   SOLE   95,150 0 0
Cisco Systems CS 17275R102 3,711 86,250 SH   SOLE   86,250 0 0
Citigroup CS 172967424 1,044 15,595 SH   SOLE   15,595 0 0
Citizens Financial Group CS 174610105 1,291 33,200 SH   SOLE   33,200 0 0
Coca-Cola CS 191216100 701 15,973 SH   SOLE   15,973 0 0
Colgate-Palmolive CS 194162103 595 9,188 SH   SOLE   9,188 0 0
Comcast Corp Cl A CS 20030n101 218 6,646 SH   SOLE   6,646 0 0
Comerica CS 200340107 282 3,100 SH   SOLE   3,100 0 0
Control4 Corp CS 21240d107 272 11,200 SH   SOLE   11,200 0 0
Crane CS 224399105 1,298 16,200 SH   SOLE   16,200 0 0
Darden Restaurants CS 237194105 254 2,375 SH   SOLE   2,375 0 0
Deere CS 244199105 482 3,450 SH   SOLE   3,450 0 0
Delta Airlines CS 247361702 1,911 38,581 SH   SOLE   38,581 0 0
Devon Energy CS 25179M103 989 22,500 SH   SOLE   22,500 0 0
DowDuPont Inc CS 26078j100 344 5,211 SH   SOLE   5,211 0 0
Dycom Industries CS 267475101 1,571 16,625 SH   SOLE   16,625 0 0
EOG Resources CS 26875p101 911 7,320 SH   SOLE   7,320 0 0
EPAM Systems Inc CS 29414b104 236 1,900 SH   SOLE   1,900 0 0
Eaton CS g29183103 893 11,950 SH   SOLE   11,950 0 0
Eli Lilly CS 532457108 226 2,650 SH   SOLE   2,650 0 0
Emerson Electric CS 291011104 1,117 16,158 SH   SOLE   16,158 0 0
Energen Corp. CS 29265n108 685 9,400 SH   SOLE   9,400 0 0
Estee Lauder CS 518439104 235 1,650 SH   SOLE   1,650 0 0
Exxon Mobil CS 30231G102 2,343 28,317 SH   SOLE   28,317 0 0
FNB Corp CS 302520101 844 62,900 SH   SOLE   62,900 0 0
Facebook Inc CS 30303m102 476 2,450 SH   SOLE   2,450 0 0
FedEx CS 31428X106 443 1,950 SH   SOLE   1,950 0 0
Fifth Third Bank CS 316773100 1,249 43,525 SH   SOLE   43,525 0 0
Fortune Brands & Home Security CS 34964c106 1,164 21,688 SH   SOLE   21,688 0 0
Franklin Resources CS 354613101 1,794 55,990 SH   SOLE   55,990 0 0
General Electric CS 369604103 775 56,924 SH   SOLE   56,924 0 0
General Mills CS 370334104 661 14,925 SH   SOLE   14,925 0 0
General Motors CS 37045v100 1,130 28,675 SH   SOLE   28,675 0 0
Genesee and Wyoming CS 371559105 429 5,270 SH   SOLE   5,270 0 0
Gilead Sciences CS 375558103 738 10,415 SH   SOLE   10,415 0 0
Goldman Sachs CS 38141G104 601 2,725 SH   SOLE   2,725 0 0
HSBC Holdings Pfd A CS 404280604 258 9,700 SH   SOLE   9,700 0 0
Harris CS 413875105 289 2,000 SH   SOLE   2,000 0 0
Home Depot CS 437076102 644 3,299 SH   SOLE   3,299 0 0
Honeywell Int'l. CS 438516106 769 5,337 SH   SOLE   5,337 0 0
Independent Bank CS 453836108 2,141 27,315 SH   SOLE   27,315 0 0
Installed Building Products In CS 45780r101 218 3,850 SH   SOLE   3,850 0 0
Int'l Bus. Mach. CS 459200101 1,474 10,550 SH   SOLE   10,550 0 0
Intel CS 458140100 2,046 41,167 SH   SOLE   41,167 0 0
J.B. Hunt Transport Services CS 445658107 869 7,150 SH   SOLE   7,150 0 0
J.P. Morgan Chase CS 46625H100 208 1,996 SH   SOLE   1,996 0 0
Johnson & Johnson CS 478160104 4,747 39,118 SH   SOLE   39,118 0 0
Kansas City So. CS 485170302 1,444 13,630 SH   SOLE   13,630 0 0
Kellogg CS 487836108 919 13,160 SH   SOLE   13,160 0 0
KeyCorp CS 493267108 1,031 52,745 SH   SOLE   52,745 0 0
Kimberly Clark CS 494368103 2,332 22,138 SH   SOLE   22,138 0 0
Lam Research CS 512807108 1,270 7,350 SH   SOLE   7,350 0 0
Lennar CS 526057104 1,446 27,550 SH   SOLE   27,550 0 0
Lincoln Electric Holdings CS 533900106 474 5,400 SH   SOLE   5,400 0 0
Louisiana Pacific CS 546347105 1,166 42,841 SH   SOLE   42,841 0 0
M.D.C. Holdings, Inc. CS 552676108 1,564 50,829 SH   SOLE   50,829 0 0
Marathon Petroleum CS 56585a102 1,582 22,550 SH   SOLE   22,550 0 0
MaxLinear, Inc. CS 57776j100 461 29,550 SH   SOLE   29,550 0 0
Mazor Robotics Ltd. CS 57886p103 255 4,600 SH   SOLE   4,600 0 0
McDonald's CS 580135101 528 3,367 SH   SOLE   3,367 0 0
Merck CS 58933y105 1,813 29,865 SH   SOLE   29,865 0 0
Microsoft CS 594918104 1,729 17,529 SH   SOLE   17,529 0 0
Mohawk Industries CS 608190104 670 3,125 SH   SOLE   3,125 0 0
Morgan Stanley CS 617446448 1,624 34,272 SH   SOLE   34,272 0 0
Newmont Mining CS 651639106 1,446 38,350 SH   SOLE   38,350 0 0
NextEra Energy Inc. CS 65339f101 234 1,400 SH   SOLE   1,400 0 0
Nike Inc Class B CS 654106103 698 8,760 SH   SOLE   8,760 0 0
Nividia CS 67066G104 200 845 SH   SOLE   845 0 0
Novartis AG ADS CS 66987V109 210 2,780 SH   SOLE   2,780 0 0
Oracle CS 68389X105 921 20,900 SH   SOLE   20,900 0 0
PPG Industries CS 693506107 1,426 13,750 SH   SOLE   13,750 0 0
Packaging Corp of America CS 695156109 553 4,950 SH   SOLE   4,950 0 0
Parker Hannifin CS 701094104 966 6,200 SH   SOLE   6,200 0 0
PayPal CS 70450y103 854 10,250 SH   SOLE   10,250 0 0
Pentair CS g7s00t104 631 15,000 SH   SOLE   15,000 0 0
Pepsico CS 713448108 309 2,838 SH   SOLE   2,838 0 0
Pfizer CS 717081103 1,883 51,889 SH   SOLE   51,889 0 0
Pioneer Natural Resources CS 723787107 308 1,625 SH   SOLE   1,625 0 0
Procter & Gamble CS 742718109 1,295 16,596 SH   SOLE   16,596 0 0
Prosperity Bancshares, Inc. CS 743606105 2,292 33,534 SH   SOLE   33,534 0 0
Prudential Financial CS 744320102 1,250 13,370 SH   SOLE   13,370 0 0
Pulte CS 745867101 480 16,700 SH   SOLE   16,700 0 0
Quanta Services CS 74762e102 779 23,326 SH   SOLE   23,326 0 0
RPM International CS 749685103 1,736 29,766 SH   SOLE   29,766 0 0
Regions Financial CS 7591EP100 663 37,290 SH   SOLE   37,290 0 0
Restaurant Brands Int'l CS 76131d103 475 7,877 SH   SOLE   7,877 0 0
Roche Holdings Ltd CS 771195104 651 23,557 SH   SOLE   23,557 0 0
Royal Dutch CS 780259206 204 2,945 SH   SOLE   2,945 0 0
Ryder System, Inc. CS 783549108 1,525 21,225 SH   SOLE   21,225 0 0
Schlumberger CS 806857108 611 9,111 SH   SOLE   9,111 0 0
Sherwin-Williams CS 824348106 204 500 SH   SOLE   500 0 0
Snap-On Tools CS 833034101 498 3,100 SH   SOLE   3,100 0 0
Sony Corp CS 835699307 243 4,731 SH   SOLE   4,731 0 0
Starbucks CS 855244109 1,538 31,475 SH   SOLE   31,475 0 0
Stryker CS 863667101 296 1,750 SH   SOLE   1,750 0 0
Summit Materials Inc CS 86614u100 515 19,628 SH   SOLE   19,628 0 0
SunTrust Banks CS 867914103 739 11,200 SH   SOLE   11,200 0 0
Sysco Corp CS 871829107 478 7,000 SH   SOLE   7,000 0 0
Target CS 87612E106 252 3,316 SH   SOLE   3,316 0 0
Tellurian CS 87968a104 92 11,000 SH   SOLE   11,000 0 0
Tenneco Inc New CS 880349105 446 10,150 SH   SOLE   10,150 0 0
Terex CS 880779103 823 19,510 SH   SOLE   19,510 0 0
The FRS Company CS aci076053 0 114,324 SH   SOLE   114,324 0 0
The Gap Inc. CS 364760108 414 12,775 SH   SOLE   12,775 0 0
Tower Semiconductor CS m87915274 354 16,104 SH   SOLE   16,104 0 0
Trinity Industries CS 896522109 501 14,622 SH   SOLE   14,622 0 0
UPS CS 911312106 1,694 15,950 SH   SOLE   15,950 0 0
Union Pacific CS 907818108 829 5,848 SH   SOLE   5,848 0 0
United Rentals, Inc. CS 911363109 1,391 9,424 SH   SOLE   9,424 0 0
United Technologies CS 913017109 688 5,503 SH   SOLE   5,503 0 0
Verizon Comm. CS 92343V104 873 17,350 SH   SOLE   17,350 0 0
Walgreens Boots Alliance CS 931427108 984 16,400 SH   SOLE   16,400 0 0
Walmart Inc. CS 931142103 1,489 17,387 SH   SOLE   17,387 0 0
Walt Disney CS 254687106 2,207 21,054 SH   SOLE   21,054 0 0
Washington Trust CS 940610108 4,310 74,188 SH   SOLE   74,188 0 0
Waste Management Inc. CS 94106l109 281 3,450 SH   SOLE   3,450 0 0
Wells Fargo CS 949746101 281 5,072 SH   SOLE   5,072 0 0
Weyerhaeuser CS 962166104 668 18,325 SH   SOLE   18,325 0 0
WisdomTree Financial CS 97717p104 659 72,550 SH   SOLE   72,550 0 0
Wyndham Destinations CS 98310w108 228 5,150 SH   SOLE   5,150 0 0
Wyndham Hotels & Resorts CS 98311a105 303 5,150 SH   SOLE   5,150 0 0
Xilinx Corp CS 983919101 380 5,825 SH   SOLE   5,825 0 0
Zoetis Inc CS 98978v103 1,667 19,573 SH   SOLE   19,573 0 0